As a small business, it can be difficult to get the most from your Marketing strategies and campaigns when working within a tight budget. Afterall, Marketing is possibly the most important aspect of business operations when the goal in sight is to achieve consumers and sales.
For those trying to get out there, it can be hard to grab the attention of consumers in an endless sea of advertisements and offers. No matter the size, It is vital that businesses implement a strategy that matches their brand image and core values whilst also appealing to their ideal audience.
There are many factors to consider when developing a marketing strategy to make it a successful one. For business people just starting out this can become quite overwhelming, even more so when the marketing depends on many trial and error attempts.
Below are some important tips you can take in order to have a simple and hopefully successful marketing debut for your business when working with a typically smaller budget.
Learn the World of Marketing
Marketing can be easier when you know exactly what to do and when to do it. But, it can be a huge struggle to know where to start, especially if this is not an area of your expertise.
Decide on The Target Audience
Before you can create any content and send it out into the world, it is important to know who the marketing is going to focus on and appeal most too. By creating a virtual client, you can establish who exactly your audience is or who you want it to be. Focus on more vague characteristics of your consumer, such as age, gender and location and once these areas are identified, start to dive deeper. What does this person do for work? What are their likes and dislikes? What do they believe in? What do they get up to on an average day, do they sit at a workstation or are they active?
This being said, research can be a time consuming and costly process that isn't as straightforward as it seems. However, applications such as Google Analytics are an easy and free way of tracking your customers behaviour, website activity and much more.
By establishing a niche and precise target audience you are able to create content that caters for the needs of customers and means that you can point your products and services in the most effective direction to increase the chance of sales. Not only does this save you time and resources, it is also a cost effective process.
Why are Competitors Getting More Sales Than Me?
Once it has been decided who the marketing will be aimed at, it will now be easier to get inspiration by looking at what competitors have already created. This is a process that saves time and money as competitors have practically done some of the research for you and have shown proven and tested ways to achieve sales.
Aspects of consumers behaviour can be researched, for example what the target audience is attracted to the most (which pieces of content get the most reaction). From gathering this information it will be evident what type of content reaches out to the most people and then you can utilise this data and write around this topic or content style. Further you are able to see what has been done before and identify possible gaps where there is demand but no content.
So, let's say your target audience are middle aged women who have above the national average in disposable income... the content produced will aim to appeal to this category. By researching, you can uncover whether it is colour, images, language or platform that attracts the most of this target audience, and then device it into the marketing your business will produce.
Collate the Research
It will be beneficial to draw up all research found for it to be a lot easier to refer too in the future when developing any content or marketing techniques further.
Putting all research into graphs, charts and writing out reports will aid in forming their own strategy and ensure any content produced will connect with the right people and go onto the correct platforms to make sure that it gets a reaction and works.
Pick One Property
When on a budget, it would be far more beneficial to pick one domain only and focus all time and effort into it.
This will not only save a huge sum of money on working on loads of different platforms at once, but will also allow the business to become very skilled and intelligent on the single platform. This will hopefully boost any content being put onto it as you will know exactly what to do and how to do it. It will be evident that you're confident when using this platform to anyone who will see the content.
This is a beneficial tip for the smaller businesses that are just starting out as many do not know that you don't need to be on every single social media platform in order to be successful. Trying to learn the in's and out's of each one just won't work, and will take a lot of time away from creating good content to put out for the audience to see.
Low Budget Marketing Ideas
Aside from knowing to create content and who to do it for, there are also various other ways that low budget marketing can happen:
- Ask for referrals - one of the best ways to make connections and get links out into the internet is to ask other content creators for referrals. This is when another business will link your company within a piece of their work. This can be a video that they tag you in, or a blog post that relates to what your business does. This will get their audience interacting with your websites or pages as they'll see the name pop - and us humans can get curious quite easily!
- Create a snazzy logo/tagline - this is a brilliant way to make your company memorable and an audience to connect the business to an image or catchphrase. This can also be placed onto any merchandise that can also get a name or image out there.
- Develop a social media plan - developing a presence on social media can make for a great form of low budget marketing as it will avoid that waste of money and allow a consecutive amount of time to be devoted to a plan that will work.
- Giveaways/workshops - this is a great way to get people excited and interact with your business. It will boost popularity and the amount of people aware with your company as everyone would want to win a giveaway! Your audience will be sure to share it with family, friends or on social media to increase chances of winning.
Marketing for a company, especially on a smaller budget can produce challenges. It will seem hard to be as successful as the companies that have barrels of money they can dispose of. But, working hard and developing a professional and confident plan, will be the best way to create some good content, that will hopefully get you some audience.